Crypto Traders Lose Over $100M as Prices Plunge Amid Middle East Turmoil

Crypto traders suffered over $100M in losses from liquidations during Monday's market rout as prices tumbled amid Middle East turmoil.

The largest amount of long liquidations in a day since Sept 11 occurred, with $105M of long positions wiped out.

Bitcoin fell over 2% before rebounding while ether slid almost 5% and other large cryptos like solana and Polygon's token saw 6-7% declines.

ETH derivatives traders took the biggest hit, with $32.78M of ETH longs liquidated especially on Binance.

Total liquidations included $18.25M BTC longs, over $3M each for BCH and Bancor's token as prices dropped.